I don’t understand how this happened, but at one point the left panel of Gnome Files changed and the Other Locations button disappeared from it, and other buttons moved to Bookmarks. Is this a bug or an update?
The main question has already been perfectly answered by @tekstryder (thanks!) but I would like to learn a bit more about how you feel about this change @Sic_Luceat_Lux , i.e. to get some feedback.
If you came this far to make this question I’m sure this change has affected your usage of the application in some way, and that would be interesting to learn as well!
The release notes explain the improved navigation. I think you’re asking 2 things: where did Other Locations go and where did your folder list in the sidebar go.
To start with the latter: a default set folders was always in the sidebar before, that is now configurable. You can add folders, like Documents and Downloads, any folder you want in any order you want, to the sidebar by dragging the folder to the sidebar and dropping it there or by going into the folder and pressing Ctrl + D to bookmark it.
In your screenshot there are no folders in the sidebar. I upgraded to GNOME 47 from GNOME 46 and that kept all my previous folders in the sidebar. I don’t know what the default is supposed to be on new installs.
Other Locations had “Computer” (a way to access /), other local disks and network storage. It was replaced with a dedicated Network panel you can access from the left sidebar, and local disks (like when you plug in a USB thumb drive) show up at the bottom of the left sidebar when connected. As alternative for "Computer, to go to /, you can click on the path bar (or Ctrl + L) which will toggle to edit the path, and type / and press Enter to go there.
This is still very unusual for me, especially because through the Other Locations button I could see how much free space I have on the disk, and without this I have to look at it in other applications or in the console.
Thank you all @tekstryder@jakedane very much for quick answers, I think I’ll get used to new look